As the article mentions, privatised water companies have built no new reservoir capacity and relied on drawing from rivers and other sources. What the article doesn’t mention is that pre-privatisation a new reservoir was built every year up to about 1960 and then every few years until privatisation in 1992. So we are about 30 years behind in adding capacity to the system. This combined with the inadequate levels of i…
So... because capitalism. People have this propagandized view that the "free market" (which isn't real) is responsible for innovation. All capitalism does is build enclosures and engage in rent-seeking. With the tendency for profits to decrease, ultimately it comes down to cutting costs and raising prices. So why would a water company invest in a new reservoir? That increases supply. That might lower prices. The UK i…
In the last century and a half, we went from candle light and horse and buggy, to the lowest level of global poverty in the last 5,000 years of recorded human history.
If capitalism wasn't responsible then what was?